Telechelic polymers, that is, polymers containing functional end groups, are useful intermediates in the preparation of high-performance polymer products. For example, such intermediates can be used in the production of fuel or lube oil additives, network polymers, star-branched polymers, and block copolymers. For example, polymers containing primary aliphatic hydroxyl end groups are very useful as reactive intermediates in polyurethane polymer synthesis. As a further example, polymers containing primary aliphatic halogen end groups are useful intermediates since the halogen group may be readily replaced by another group by reaction with a nucleophilic reagent. As yet a further example, polymers containing phenol end groups are useful in the synthesis of fuel and lubricating oil additives because, for example, they are readily reacted with formaldehyde and a polyamine to generate ashless dispersants. Thus, there is a need for telechelic polymers containing hydroxyl, halogen, phenol, etc. end groups, as well as methods of synthesizing the same.